NEW YORK, March 13 (Reuters) - U.S. stocks dropped on
Thursday on rising tension in Ukraine, which helped erase
earlier gains spurred by better-than-expected data on retail
sales and the labor market.

Selling accelerated after reports U.S. F-16 fighter jets
landed at central Poland's Lask air base on Thursday to take
part in military exercises seen as Washington's gesture of
support for its eastern NATO allies. Volume on the S&P e-Mini
futures totaled more than 27,000 contracts at 1:02 p.m.
(1502 GMT).

Russia said it had started military exercises near the
border with Ukraine, in what is likely to be seen as a show of
force in the standoff with the West over Crimea. Ukraine's
acting president said Russian forces were concentrated on the
border "ready to invade," but he believed international efforts
could end Moscow's "aggression" and avert the risk of war.

German Foreign Minister Frank-Walter Steinmeier said Germany
assumes this weekend's referendum in Crimea will be followed by
steps to absorb the region into Russia, and if there is no
change in direction the European Union will be forced to
consider a further, third stage of sanctions.
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